NexusFi: Find Your Edge


Home Menu

 





Do all brokers accept Canadians?


Discussion in Brokers

Updated
      Top Posters
    1. looks_one Japhro with 5 posts (2 thanks)
    2. looks_two mattz with 5 posts (5 thanks)
    3. looks_3 Anatta with 5 posts (1 thanks)
    4. looks_4 kroeran with 4 posts (0 thanks)
      Best Posters
    1. looks_one drago1 with 3 thanks per post
    2. looks_two Snoop with 3 thanks per post
    3. looks_3 Blue Eagle with 1.5 thanks per post
    4. looks_4 mattz with 1 thanks per post
    1. trending_up 25,914 views
    2. thumb_up 31 thanks given
    3. group 22 followers
    1. forum 47 posts
    2. attach_file 0 attachments




 
Search this Thread

Do all brokers accept Canadians?

  #41 (permalink)
 Sk8ter 
Beaverton, Canada
 
Experience: Beginner
Platform: Ninjatrader
Trading: Currency Futures
Posts: 135 since Dec 2012
Thanks Given: 1,199
Thanks Received: 130


wipca201 View Post
As I think about it more, it is making perfect sense to keep the fund with IB in Canada. It probably is a good idea to bite the bullet for data cost considering the risk and cost.

The US brokers does not care much about customer services or customer authorization. It happens to me twice - first with Mirus and now with NinjaBrokerage.

Mirus never directly advised me about their problem upfront and they frozen my account and transferred my data feed to Continuum and then the whole account to Ninjabrokerage. All was kind of done after the fact.

Now NinjaBrokerage closed my account without telling me beforehand. I am very much fed up with US brokerage. I have totally lost more trust with these US brokerage.

I was stupid to be fooled twice. Not any more.


@wipca201, thanks for pointing this out. I just found out from my statement as well that my account was closed. No communication of any sort. It would've been nice to know this in advance as I would simply have transferred those funds to another account rather than getting the cheque and having to go through that whole process. Pretty disappointed with the whole Mirus/Continuum/Ninja debacle as well. Although I have a lot of time and money invested in Ninja for me it's now time to start looking at other alternatives, I've had enough. Who knows, this may lead me to a more robust and stable platform and people who actually care about all their customers.

Reply With Quote
The following user says Thank You to Sk8ter for this post:

Can you help answer these questions
from other members on NexusFi?
Request for MACD with option to use different MAs for fa …
NinjaTrader
NexusFi Journal Challenge - April 2024
Feedback and Announcements
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
ZombieSqueeze
Platforms and Indicators
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Retail Trading As An Industry
58 thanks
Battlestations: Show us your trading desks!
50 thanks
NexusFi site changelog and issues/problem reporting
47 thanks
GFIs1 1 DAX trade per day journal
32 thanks
What percentage per day is possible? [Poll]
31 thanks

  #42 (permalink)
 
CannonTrading's Avatar
 CannonTrading   is a Vendor
 
Posts: 216 since Mar 2013
Thanks Given: 77
Thanks Received: 183


wamo View Post
Any updates on Canadian brokers?

We have been receiving an influx of Canadian clients inquiring about the platforms we can offer them.

Here is a list of platforms we can offer to Canadian clients as well as links to sign up for demos

CQG Trader or CQG Q Trader: https://www.cannontrading.com/software/cqg-qtrader

Sierra Charts: https://www.cannontrading.com/software/transact-at

Multi Charts: https://www.cannontrading.com/software/multicharts

Market DeltaCloud: https://app.marketdelta.com/signup

eSignal: https://www.cannontrading.com/software/esignal
FireTip: https://www.cannontrading.com/software/firetip-futures-options--online-trading

PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
Follow me on Twitter Reply With Quote
  #43 (permalink)
 
mattz's Avatar
 mattz   is a Vendor
 
Posts: 2,493 since Sep 2010
Thanks Given: 2,440
Thanks Received: 3,789


We can help with Canadian customers. All except for BC.

Thank you,
Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Reply With Quote
  #44 (permalink)
 
Blue Eagle's Avatar
 Blue Eagle 
vancouver British Columbia/Canada
Legendary Market Wizard
 
Experience: Intermediate
Platform: Ninja Trader
Trading: CL
Frequency: Daily
Duration: Minutes
Posts: 1,813 since Jan 2013
Thanks Given: 7,801
Thanks Received: 7,852


mattz View Post
We can help with Canadian customers. All except for BC.

Thank you,
Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. past performance is not indicative of future results.

Hey Matt, I've seen you on the forum answering a number of questions and thought maybe you could help with this one.

I am in BC and so need to use IB Canada. A more financially professional individual might have gotten the answer I need a lot earlier than I have but my focus has been on actually trying to learn to trade...which at this point, over several years has gone from losing a good chunk of money to breaking even...and I am hoping might turn the last corner to profit.

Anyway, when I look at my "cash holdings" with IB it shows about 100k in deposits in CAD...listed as "total cash".
Then, I imagine due to losses over the years, it shows negative 6ok USD. And every month I am dinged a growing 'interest' that is now up to $400/mo.
I have tried their support people but no good info from them. They have an option to "convert all to CAD"...not sure if this is a solution or if it will stop me from being able to trade US Futures which I trade.

Any thoughts/help would be appreciated.
Craig

Remember that the minute you take your first step into the life of your dreams, the first to greet you there will be fear... Nod. Keep walking.
Visit my NexusFi Trade Journal Reply With Quote
  #45 (permalink)
 Shredder 
Winnipeg Canada
 
Experience: Intermediate
Platform: Ninja
Trading: TF, ES , NG
Posts: 8 since May 2011
Thanks Given: 59
Thanks Received: 14

Try GFF Brokerage and ask for Vinny Nizian. I live in Manitoba and they’ve been great to deal with.

Follow me on Twitter Reply With Quote
  #46 (permalink)
 
mattz's Avatar
 mattz   is a Vendor
 
Posts: 2,493 since Sep 2010
Thanks Given: 2,440
Thanks Received: 3,789


Blue Eagle View Post
Hey Matt, I've seen you on the forum answering a number of questions and thought maybe you could help with this one.

I am in BC and so need to use IB Canada. A more financially professional individual might have gotten the answer I need a lot earlier than I have but my focus has been on actually trying to learn to trade...which at this point, over several years has gone from losing a good chunk of money to breaking even...and I am hoping might turn the last corner to profit.

Anyway, when I look at my "cash holdings" with IB it shows about 100k in deposits in CAD...listed as "total cash".
Then, I imagine due to losses over the years, it shows negative 6ok USD. And every month I am dinged a growing 'interest' that is now up to $400/mo.
I have tried their support people but no good info from them. They have an option to "convert all to CAD"...not sure if this is a solution or if it will stop me from being able to trade US Futures which I trade.

Any thoughts/help would be appreciated.
Craig

Hi Craig,

First, the old post you quoted is no longer valid. We now take BC.

As for your question, You are holding two balances now, and one is negative. The interest charges occur on a negative balance. Therefore, ask your broker to convert the negative balance to USD. Remember that if your losses are in USD and the CAD depreciates, your USD losses will "eat" further into the CAD initial deposit.
If you have a customer service rep with the current broker, they can also discuss that with you.

I wish you the best of luck.
Happy and Healthy 2024.

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Reply With Quote
The following 4 users say Thank You to mattz for this post:
  #47 (permalink)
 
deaddog's Avatar
 deaddog 
Prince George BC Canada
Legendary Market Wizard
 
Experience: Advanced
Platform: National Bank Direct
Broker: NBD/BMO/Questrade
Trading: Stocks
Frequency: Every few days
Duration: Weeks
Posts: 1,280 since May 2013
Thanks Given: 183
Thanks Received: 3,951


Blue Eagle View Post
Hey Matt, I've seen you on the forum answering a number of questions and thought maybe you could help with this one.

I am in BC and so need to use IB Canada. A more financially professional individual might have gotten the answer I need a lot earlier than I have but my focus has been on actually trying to learn to trade...which at this point, over several years has gone from losing a good chunk of money to breaking even...and I am hoping might turn the last corner to profit.

Anyway, when I look at my "cash holdings" with IB it shows about 100k in deposits in CAD...listed as "total cash".
Then, I imagine due to losses over the years, it shows negative 6ok USD. And every month I am dinged a growing 'interest' that is now up to $400/mo.
I have tried their support people but no good info from them. They have an option to "convert all to CAD"...not sure if this is a solution or if it will stop me from being able to trade US Futures which I trade.

Any thoughts/help would be appreciated.
Craig

You can use the Norbert Gambit to exchange your money.
Find an interlisted stock like BMO. Buy on the TSE and sell on NYSE. That will put US cash into your account.

"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
Reply With Quote
The following 3 users say Thank You to deaddog for this post:
  #48 (permalink)
 
Blue Eagle's Avatar
 Blue Eagle 
vancouver British Columbia/Canada
Legendary Market Wizard
 
Experience: Intermediate
Platform: Ninja Trader
Trading: CL
Frequency: Daily
Duration: Minutes
Posts: 1,813 since Jan 2013
Thanks Given: 7,801
Thanks Received: 7,852


deaddog View Post
You can use the Norbert Gambit to exchange your money.
Find an interlisted stock like BMO. Buy on the TSE and sell on NYSE. That will put US cash into your account.

First, thanks to Matt for that info above.

And Mr Deaddog...the knowledge in your reply highlights a clearly weak link in my endeavour into the 'business' of trading. Never mind not knowing about the Norbert Gambit, I am seriously embarrassed that I only now am finding out that putting CAD into my account and trading US products resulted in a constantly growing negative balance that I have been paying increasingly growing interest on FOR YEARS!!!
I would quickly look at the fees being payed but was far more consumed with just learning to trade profitably and assumed they were normal broker fees. Last year I did notice that they were quite large and contacted a rep but they couldn't explain what was going on and I got busy with life and carried on.

Then this week I got my year end report and saw that I had payed almost $400/mo in interest fees on this negative balance last year. Finally dug in with the right info on my end and got my answer...which is now fixed.

While I am embarrassed at my cluelessness (and a little pissed that it never came up when opening the account and talking to reps) I am posting this here in case anyone else is as clueless and doesn't know that the CAD funds need to be transferred into USD to trade US products.

Thanks again guys,
Craig

Remember that the minute you take your first step into the life of your dreams, the first to greet you there will be fear... Nod. Keep walking.
Visit my NexusFi Trade Journal Reply With Quote
The following 3 users say Thank You to Blue Eagle for this post:





Last Updated on January 15, 2024


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts